REO

While flat from a year ago, volumes surged between June and July, with notable increases in both starts and completions, according to Attom.

The move further diversifies a company working to grow beyond its roots in what is currently a small — but possibly expanding — single-family distressed market.

The downward trend comes as servicers and agencies continue to implement programs aimed at keeping borrowers in their homes.

Combining the two property preservation firms brings specialized technology and capabilities that Five Brothers has to MCS and broadens the operations of both.

Repossessions registered both monthly and annual increases, though, according to Attom.

California recorded the largest total of new starts, while Illinois, Delaware and New Jersey led all states in the rate of filings during the third quarter, according to Attom.

Nearly half the country saw foreclosure starts rise year-over-year during the final month of the moratorium, according to Attom Data Solutions.

The municipalities are based in New York, which has the highest volume of such properties across the U.S.

The Federal Housing Administration, the agency that oversees government-sponsored enterprises Fannie Mae and Freddie Mac, and the VA extended additional relief to those living in single-family rental, real-estate owned properties.

Although activity crept down in May from April, it posted “dramatic” increases from the year before, according to Attom Data Solutions.

The ongoing CARES Act foreclosure moratoria may have led to distressed borrowers abandoning their homes, according to Attom Data Solutions.

Most of the activity covered vacant and abandoned properties or commercial loans, according to Attom Data Solutions.

One government agency is committed to collecting new data about foreclosure sale outcomes during the current lull in activity. The industry hopes it won’t lead to developments that bog down work later.

While foreclosure moratoria keep the overall numbers down, zombie foreclosure rates jumped in the majority of states, according to Attom Data Solutions.

With President Biden extending the moratorium, foreclosures hit an all-time low at the start of 2021 as millions of delinquent borrowers avoided entering the process, according to Attom Data Solutions.

The government-sponsored enterprises’ moratoria will now continue well past inauguration day, according to the Federal Housing Finance Agency.

While the annual total marks a 16-year low, the numbers are likely to change dramatically once government moratoria expire, according to Attom Data Solutions.

Recipients can’t charge penalties for, or engage in, evictions solely for nonpayment, must provide a written notice of tenant rights, flexibility in repayment and, where applicable, 30-day vacate notices.

The November foreclosure rate represented an 80% decline from the year before, according to Attom Data Solutions.

While sales increased 24% over August, they were still down 78% from the prior year, Auction.com reported.